Hamada Company uses normal costing. It allocates manufacturing overhead costs using a budgeted rate per machine-hour. The following data are available for 2020: Budgeted manufacturing overhead costs $4,200,000, Budgeted machine-hours 175,000, Actual manufacturing overhead costs $4,050,000, and Actual machine-hours170,000. the budgeted manufacturing overhead rate is:

a.

$23.14 per machine-hour

b.

$23.82 per machine-hour

c.

$24.00 per machine-hour

d.

$24.71 per machine-hour